Vanguard Group Inc. Sells 521,427 Shares of Marathon Petroleum Corporation $MPC

Vanguard Group Inc. lowered its position in shares of Marathon Petroleum Corporation (NYSE:MPC) by 1.3% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 38,344,677 shares of the oil and gas company’s stock after selling 521,427 shares during the quarter. Vanguard Group Inc. owned 0.13% of Marathon Petroleum worth $7,390,553,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of MPC. Delos Wealth Advisors LLC purchased a new stake in shares of Marathon Petroleum during the second quarter valued at approximately $25,000. NewSquare Capital LLC grew its stake in Marathon Petroleum by 103.1% in the 2nd quarter. NewSquare Capital LLC now owns 199 shares of the oil and gas company’s stock valued at $33,000 after purchasing an additional 101 shares during the period. WFA of San Diego LLC purchased a new stake in shares of Marathon Petroleum during the 2nd quarter valued at $33,000. Transce3nd LLC raised its stake in shares of Marathon Petroleum by 10,250.0% during the 2nd quarter. Transce3nd LLC now owns 207 shares of the oil and gas company’s stock worth $34,000 after purchasing an additional 205 shares during the period. Finally, Stone House Investment Management LLC boosted its holdings in shares of Marathon Petroleum by 46.1% in the 2nd quarter. Stone House Investment Management LLC now owns 225 shares of the oil and gas company’s stock worth $37,000 after buying an additional 71 shares during the last quarter. Hedge funds and other institutional investors own 76.77% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have commented on MPC shares. TD Cowen lifted their price objective on shares of Marathon Petroleum from $183.00 to $198.00 and gave the stock a “buy” rating in a research report on Wednesday, February 4th. Zacks Research cut shares of Marathon Petroleum from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 20th. Weiss Ratings reiterated a “hold (c)” rating on shares of Marathon Petroleum in a research note on Thursday, January 22nd. Piper Sandler decreased their target price on Marathon Petroleum from $231.00 to $184.00 and set a “neutral” rating for the company in a research report on Thursday, January 8th. Finally, The Goldman Sachs Group upped their price target on Marathon Petroleum from $204.00 to $211.00 and gave the company a “buy” rating in a research report on Thursday, February 5th. Ten investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $202.19.

Marathon Petroleum Price Performance

Marathon Petroleum stock opened at $203.33 on Tuesday. The firm has a market capitalization of $61.12 billion, a P/E ratio of 15.23, a PEG ratio of 1.32 and a beta of 0.74. Marathon Petroleum Corporation has a one year low of $115.10 and a one year high of $210.32. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.32 and a quick ratio of 0.79. The business has a fifty day moving average price of $179.12 and a 200-day moving average price of $182.49.

Marathon Petroleum (NYSE:MPC) last released its quarterly earnings data on Tuesday, February 3rd. The oil and gas company reported $4.07 EPS for the quarter, beating analysts’ consensus estimates of $3.73 by $0.34. The company had revenue of $35.10 billion during the quarter, compared to analyst estimates of $30.89 billion. Marathon Petroleum had a net margin of 2.99% and a return on equity of 14.00%. Marathon Petroleum’s revenue was down .1% compared to the same quarter last year. During the same period last year, the business earned $0.77 earnings per share. As a group, equities research analysts forecast that Marathon Petroleum Corporation will post 8.47 EPS for the current year.

Marathon Petroleum Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 10th. Investors of record on Wednesday, February 18th will be paid a dividend of $1.00 per share. The ex-dividend date of this dividend is Wednesday, February 18th. This represents a $4.00 annualized dividend and a yield of 2.0%. Marathon Petroleum’s dividend payout ratio (DPR) is currently 29.96%.

Marathon Petroleum Company Profile

Marathon Petroleum Corporation (NYSE: MPC) is a U.S.-based downstream energy company engaged principally in the refining, marketing, supply and transportation of petroleum products. The company was formed through a spin-off from Marathon Oil in 2011 and operates an integrated system of refining and logistics assets that support the production and distribution of transportation fuels and other refined petroleum products.

Marathon Petroleum’s operations include refining crude oil into gasoline, diesel, jet fuel, asphalt and other specialty products, as well as managing the distribution and storage infrastructure needed to move those products to market.